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Energem Corp (ENCPW) drives innovation in advanced materials and sustainable technology solutions. This dedicated news hub provides investors and stakeholders with comprehensive access to official corporate communications and strategic updates.
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Energem Corp. (Nasdaq: ENCP, ENCPW) has announced a $200 million Standby Equity Purchase Agreement with YA II PN, Ltd. and Graphjet Technology Sdn. Bhd. This agreement allows Graphjet to sell up to $200 million in shares post-completion of their business combination, where Graphjet will become a wholly-owned subsidiary and Energem will be renamed Graphjet Technology, expected to trade under the ticker GTI. The deal is contingent upon SEC clearance and shareholder approvals. This investment aims to bolster Graphjet's growth, particularly in producing materials for EV batteries, addressing rising demand in the sector.
Energem Corp. (Nasdaq: ENCP, ENCPW) announced a payment of approximately $85,296.45 to its Trust Account as part of a second monthly extension of the Termination Date. This follows prior shareholder approvals to amend the Trust Agreement and to extend the deadline for completing a business combination to August 18, 2023. Shareholders redeemed 9,604,519 shares for about $98 million, leaving a remaining Trust Account balance of $19.36 million.
The company aims to merge with businesses in the energy sector.
Energem Corp. (Nasdaq: ENCP, ENCPW) announced the filing of a definitive proxy statement on October 17, 2022, for an extraordinary general meeting set for November 11, 2022. The meeting's agenda includes proposals to extend the timeframe for completing a business combination by up to nine months, until August 18, 2023, and to amend the investment management trust agreement to reflect the same extension.
Shareholders of record on October 14, 2022, can vote via phone or online. The proxy statement will be mailed to shareholders, urging prompt voting.
Energem Corp (Nasdaq: ENCP, ENCPW) has announced a proposed business combination with Graphjet Technology Sdn. Bhd., which holds a patent-pending technology for recycling palm kernel shells into graphene and artificial graphite. A confidential draft Registration Statement on Form F-4 has been submitted to the SEC, and the merger, approved by both companies' boards, expects completion in early 2023, pending shareholder approval and other customary conditions. Post-transaction, Energem will rebrand as Graphjet Technology and be listed under ticker GTI.
Energem Corp (Nasdaq: ENCP, ENCPW) has signed a definitive agreement to acquire Graphjet Technology, valuing the transaction at approximately $1.49 billion. Graphjet, founded in 2019, specializes in converting palm kernel shells into high-demand graphene and graphite materials for various industries including energy storage and automobile applications. The deal aims to enhance Graphjet's production capabilities and establish a state-of-the-art manufacturing facility. The business combination is expected to close in the second half of 2022.
Energem Corp. will begin allowing unit holders to separately trade shares of common stock and warrants on Nasdaq starting January 10, 2022. Each unit comprises one share of common stock and one warrant to purchase a share at $11.50. The common stock will trade under the symbol ENCP, while the warrants will trade under ENCPW. Units not separated will continue trading as ENCPU. This offering, underwritten by EF Hutton, aims to facilitate investment flexibility, but potential investors should consult the SEC for risks associated with the offering.
